Nine says TV ad revenue lifting 15%

Chris Pash
By Chris Pash | 12 November 2020

Nine now expects metropolitan television advertising revenue to grow 15% in the December quarter. 

In a trading update to be delivered to the comapny's AGM, Nine says the advertising market has "improved significantly" since the end of September.  

"With the added benefit of major event timing (State of Origin and NRL Finals), Nine’s December quarter is now expected to show growth in Metro FTA advertising revenue of around 15%," the company says. 

Nine expects Metro TV ad revenues in the December half to be broadly flat on tthe same six months last year and 9Now revenues to be up around 25%. 

"We are certainly trading more positively than we would have anticipated just three months ago and are very pleased with the operating performance and trends in each of our business units," says CEO Hugh Marks. 

"Despite this, given our limited visibility on the second half advertising market, we do not believe we are in a position to provide guidance on earnings for the full year. We expect to be in a better position to address this at our half year results in February."

Nine posted its full year results in August, showing revenue up 17% to $2.17 billion but the media company posted a $508.78 million loss mainly on impairment of goodwill. Excluding special items, profit fell 17% to $155.4 million for the year to June. 

Nine trading update nov 2020

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